Welcome!

News Feed Item

ALL DEF DIGITAL Raises $5M Series A Financing Led By Greycroft Partners

-Funding Will Accelerate Company's Cross Platform Growth, Original Programming and Development of Network Talent-

CULVER CITY, Calif., Aug. 6, 2014 /PRNewswire/ -- ALL DEF DIGITAL, INC. (ADD) announced today it has closed $5M in Series A financing led by the influential new media venture capital firm Greycroft Partners, with participation from Advancit Capital, Nu Horizons Investments and e.ventures. The announcement was jointly made by ADD co-founder Russell Simmons and Greycroft's Mark Terbeek, who will join the Company's Board of Directors.

ALL DEF DIGITAL is the first digital consumer entertainment brand and cross-platform network built to deliver comedy, music, news, poetry and innovative artistry in all forms from the New American Mainstream to audiences worldwide.

The financing will accelerate the Company's cross-platform growth, artist and talent development initiatives, and original programming in comedy, music, news and poetry, as well as branded entertainment and multi-dimensional sponsorships.  The funding will also be used to expand ADD's multi-channel network and operations.

Principal investors include some of the most important names in digital media and entertainment today. Greycroft is known for its experience, influence and success in the digital arena, making strategic early investments in a prestigious portfolio of new media and online video start ups including Maker Studios, AwesomenessTV, and The Huffington Post.  Advancit Capital is led by Shari Redstone and its partners include Jonathan Miller  (former chairman of AOL and Chief Digital Officer for News Corporation). E.ventures is a global  venture capital firm with a 15 year track record backing companies as diverse as Groupon and Angie's List.  ADD's funding sources also include as a major investor Nu Horizons, a fund jointly established between Russell and Kimora Lee Simmons-Leissner.

"Alan Patricoff at Greycroft is one of the most forward looking and savvy investors in early and advanced stage companies, period," said Russell Simmons, co-founder of ADD.  "And Mark Terbeek was one of the first VC's to see the revolution in video coming, having experience in many related investments.  Greycroft's vantage point and network of relationships across the media landscape will be tremendously valuable to us as we grow."

"We are thrilled to have the support of partners like Greycroft, Advancit and e.ventures." said Sanjay Sharma, President and COO of ADD. "Mark Terbeek and Greycroft were the first to see the disruption of traditional media models caused by the collision of online video and the social web.  Mark and the team have been involved in critical online video businesses, from AwesomenessTV and ZEFR, to Machinima and Maker Studios."

"We have had the pleasure of backing some great teams in this sector and when we had an opportunity to invest in ALL DEF DIGITAL, we jumped at the chance," said Terbeek. "When it comes to nurturing and introducing global audiences to new art forms and new artists, Russell is a one-of-a-kind visionary.  He is a prolific entrepreneur who has been very methodically building an outstanding platform and team at ALL DEF DIGITAL. I've worked closely with Sanjay for five years and have seen the impact his strategic vision and operating expertise had in creating the MCN model itself.  The opportunity to take prior learnings and build a transformative new brand, that spans video and music content, in this category, is tremendous and there's no one better positioned than ADD to do it."

ADD has been growing steadily, developing an increasing number of original content series, profiling and developing content with select network partners, and ramping up creative solutions with top tier brands.  It recently announced a groundbreaking collaboration with Samsung to create ADD52, an artist discovery platform tied into an All Def channel on the MILK music streaming service.  The Company's most recent "Single of the Week" broke the Billboard/Twitter "Real Time" Top 10 Chart shortly after being released.

ABOUT ALL DEF DIGITAL

ALL DEF DIGITAL is a premium, multi-platform digital media company and entertainment hub, curating, developing and connecting a new generation of content creators from the New American Mainstream to global audiences.  ADD embraces multiracial but singularly cultural entertainment in all its forms. The company produces original programming and supports and nurtures artists and cultural influencers of all kinds, comics, writers, directors, actors, poets and musicians through its multiple outlets and access points, including a record label, television and motion picture development group, artist management group, and deep partnerships with full service creative agencies.  ADD is headquartered in Los Angeles, California, with offices in New York. For more information, visit the company at www.alldefdigital.com.

ABOUT GREYCROFT PARTNERS
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world - New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners.  Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $600 million and has made over 100 investments since inception, including leading companies such as AppAnnie, Baublebar, Braintree, Buddy Media, Collective, Extreme Reach, Huffington Post, JW Player, Klout, Maker Studios, Plain Vanilla, Pulse, TheRealReal, Trunk Club and WideOrbit.  For more information please visit the Greycroft Partners website at www.greycroftpartners.com.

ABOUT NU HORIZONS 
Nu Horizons is a new media and lifestyle investment company jointly established between Russell Simmons and Kimora Lee Simmons-Leissner's venture fund KLS Holdings.  KLS Holdings is focused on early stage companies in digital and consumer markets globally whose investments include a new fashion company launching fall 2014, Codage, Paris, a leading global Premier skin care business, and various sports related investments.

ABOUT ADVANCIT
Advancit Capital was co-founded in 2011 by Redstone and Jason Ostheimer. Redstone is Vice Chair of the Boards of Viacom, Inc. and CBS, Inc. and President of National Amusements, Inc. Ostheimer was previously a Vice President at the Blackstone Group.

The firm has made more than 40 investments since its inception, with a focus on early-stage companies at the intersection of media, entertainment and technology. The team seeks the opportunity to form long term partnerships with talented and passionate entrepreneurs who are addressing large opportunities that are ripe for innovation and disruption. The firm provides not only capital, but access to a unique, deep network of industry relationships and strategic support to help accelerate a portfolio company. Investments have been focused primarily in New York as well as Los Angeles, San Francisco, Boston and the United Kingdom.

ABOUT e.Ventures
Founded in 1998 and built on a strong, shared culture of entrepreneurship, e.ventures is a venture capital firm with global scale. The firm invests out of dedicated funds in five geographies, namely BV e.ventures (U.S.), e.ventures Europe, e.ventures Russia, Infinity e.ventures (China and Japan) and Redpoint e.ventures (Brazil and Latin America). The e.ventures team has been investing in Internet companies for more than 15 years and operates as one team by combining a global investment strategy and philosophy with local presence and insights. Focused exclusively at the intersection of consumer Internet, media and mobile, e.ventures aims to help entrepreneurs build transformative companies.www.eventures.vc

FOR MORE INFORMATION

Steve Elzer
Elzer & Associates, Inc
[email protected]
(213) 392-4660

SOURCE ALL DEF DIGITAL, INC.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
SYS-CON Events announced today that FalconStor Software® Inc., a 15-year innovator of software-defined storage solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. FalconStor Software®, Inc. (NASDAQ: FALC) is a leading software-defined storage company offering a converged, hardware-agnostic, software-defined storage and data services platform. Its flagship solution FreeStor®, utilizes a horizonta...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
SYS-CON Events announced today that (ISC)²® (“ISC-squared”) will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Two leading non-profits focused on cloud and information security, (ISC)² and Cloud Security Alliance (CSA), developed the Certified Cloud Security Professional (CCSP) certification to address the increased demand for cloud security expertise due to rapid growth in cloud. Recently named “The Next...
The Art of DevOps provides a fun overview to help teams understand DevOps. Written in the style of the famous 6th century Chinese manuscript “The Art of War,” this eBook describes DevOps in the form of a mission to continuously deliver assets to the operational battlegrounds safely, securely, and quickly. It’s a fun read with valuable insights.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...